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Danske Bank turns aggressive following disappointing mutual fund sales: New entity to kick start sales

Head of Wealth Management at Danske Bank, Jacob Aarup-Andersen, admits to being far from happy with declining sales of mutual funds to private customers. A new strategic initiative is meant to help advisors and put an end to declining fee revenue.

Photo: DANICA

Danske Bank is not where it would like to be when it comes to selling funds to their private customers, says Jacob Aarup-Andersen, head of Wealth Management and member of management at Danske Bank, in an interview with AMWatch's sister media, FinansWatch.

"In general, we observe a mild pressure on margins, and looking at our net selling, it has not been a great quarter for sales. We are not where we would like to be, and it is definitely an area that we need to keep working on," says Aarup-Andersen with reference to the latest quarterly figures, that were published last week.

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